Theses and Dissertations

Date of Award

2025

Document Type

Dissertation - NSU Access Only

Degree Name

Doctor of Education (EdD)

Department

Abraham S. Fischler College of Education and School of Criminal Justice

Advisor

Gina Peyton

Committee Member

Gloria Kieley

Committee Member

Kimberly Durham

Keywords

stress management, student loan programs, anxiety, COVID-19, debt (financial)

Abstract

Over the last several decades, the cost of higher education has increased substantially. Students face increased financial stress and uncertainty when borrowing to earn a degree. They also face financial stress from additional sources, such as credit card debt, saving for the future, putting off marriage and starting a family, and purchasing a home. Additionally, the 2020 global COVID-19 pandemic impacted education at every level and on a global scale. This study examined the impact of financial stress on the general public in the southeastern United States. A quantitative study using a Likert-type scale broke down the student sample by age, ethnicity, and gender. Two research questions guided the study: 1. In a post-COVID-19 environment, how often and in what areas does stress from student loans impact students? 2. In a post-COVID-19 environment, how does student loan debt impact student health on a daily basis?

The results of the study were surprising given the current financial environment. Following the COVID pandemic, interest rates rose as government spending increased and the U.S. dollar was devalued. Along with the change in workforce behavior and the closure of many small businesses, this information meant that similar results to the studies in the literature was anticipated; however, that was not the case. First, as noted, the number of male and female responded was identical. This contrasts with the responses based on ethnicity, with the greatest number being White non-Hispanic (97.63%). The next highest ethnic group to respond was Black or African American (10.74%) and then Hispanic or Latino (5.19%). The study found that minorities and women did not respond that they experienced as large an impact as those surveyed in previous studies a decade ago. The greatest surprise was that women in the 65+ age group responded with little concern for the impacts on purchasing a home, career advancement, or paying off their student loans. Even in the Financial Anxiety Scale, women responded with the smallest impact. The second surprising result was that almost half of the respondents were not concerned about the total amount they owe in student loans (43.46%) and that they had no stress at all about the debt (46.15%).

Further studies are needed because so many factors exist. Additional research into specific student characteristics is needed beyond ethnicity, gender, age, and income levels. Several longitudinal studies across different states and in public and private institutions would provide a clearer picture of financial stress and anxiety, as well as the impact on students who borrow for their education.

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